TAO/USDT: Analysis - will it bit and soar? or bit and sorry?!
Updated
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SUMMARY FOR LAZY READERS:
🚨 Traders, this TAO chart’s a battlefield, and the bears are winning. The 0.618 Fib level’s been snubbed—no bullish bounce in sight. We’re in deep bear territory here.
📉 MAs are out the window; the 50-day and 20-day are being blatantly disregarded. Price action is breaching these with zero respect. It’s bearish, and anyone saying otherwise is selling dreams.
👊 That huge wick? It's a tease, not a trend reversal. Don’t get suckered into bullish traps. This isn’t a buying zone; it's a warning shot.
💥 Sellers, get ready. The 'safe' MAs? They're targets now, not supports. Expect prints at 200MA or 150MA because we might not be done dropping.
#TAO #Crypto #Bearish
See photo for more elaborated explanation.
For more detailed takes. Here is why.
🚨 TAO's chart is in full bear mode, and here's why:
📐 Fibonacci's telling a grim tale. The 0.618 level's been shunned, and when you ignore the golden ratio, you're asking for pain. A false rally to 0.114 was nothing but bears in sheep's clothing, baiting for a drop.
🟡🟣 MAs are crying wolf here—the 50-day (yellow) and 20-day (purple) have been breached with no bounce-back, solidifying the bearish stronghold. Prices slicing through MAs like this? It's not a sign of health.
👀 That wick at the top isn't a bullish battle cry; it's a one-hit wonder. The market's not finding any solid ground, making those 'buying zones' more like quicksand.
🔮 Predictions of a touch on the 200MA or 150MA? It's not just probable; it's like destiny at this point. We're heading south until those levels say 'stop'.
💸 Sentiment's a mixed bag with talk of influencers and VCs pumping. But remember, real markets don't run on hype alone.
In short: Bulls, take a breather; bears, take the wheel. We're not in Kansas anymore, and this yellow brick road's heading straight for a cliff.
#TAO #Crypto #Bearish
SUMMARY FOR LAZY READERS:
🚨 Traders, this TAO chart’s a battlefield, and the bears are winning. The 0.618 Fib level’s been snubbed—no bullish bounce in sight. We’re in deep bear territory here.
📉 MAs are out the window; the 50-day and 20-day are being blatantly disregarded. Price action is breaching these with zero respect. It’s bearish, and anyone saying otherwise is selling dreams.
👊 That huge wick? It's a tease, not a trend reversal. Don’t get suckered into bullish traps. This isn’t a buying zone; it's a warning shot.
💥 Sellers, get ready. The 'safe' MAs? They're targets now, not supports. Expect prints at 200MA or 150MA because we might not be done dropping.
#TAO #Crypto #Bearish
See photo for more elaborated explanation.
For more detailed takes. Here is why.
🚨 TAO's chart is in full bear mode, and here's why:
📐 Fibonacci's telling a grim tale. The 0.618 level's been shunned, and when you ignore the golden ratio, you're asking for pain. A false rally to 0.114 was nothing but bears in sheep's clothing, baiting for a drop.
🟡🟣 MAs are crying wolf here—the 50-day (yellow) and 20-day (purple) have been breached with no bounce-back, solidifying the bearish stronghold. Prices slicing through MAs like this? It's not a sign of health.
👀 That wick at the top isn't a bullish battle cry; it's a one-hit wonder. The market's not finding any solid ground, making those 'buying zones' more like quicksand.
🔮 Predictions of a touch on the 200MA or 150MA? It's not just probable; it's like destiny at this point. We're heading south until those levels say 'stop'.
💸 Sentiment's a mixed bag with talk of influencers and VCs pumping. But remember, real markets don't run on hype alone.
In short: Bulls, take a breather; bears, take the wheel. We're not in Kansas anymore, and this yellow brick road's heading straight for a cliff.
#TAO #Crypto #Bearish
Note
Since the photo is not clear. Here is the pic. 
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